At start of the pre-market session today, shares of ABVC BioPharma Inc. (ABVC) rose 77.17 percent to $4.5. ABVC stock almost stabilized with a little dip of -0.78% to close Friday session at $2.54. Total volume of 84512.0 shares remained low over 50 consecutive days, compared to an average daily volume of 2.01 million shares.
Since the beginning of the year, ABVC shares have fallen by -37.28%, and over the last week, they’ve gained by 2.83%. The stock has suffered a loss of -48.69% over the past three months, while it has shed -44.78% over the past six months. The current market capitalization of ABVC is $62.61 million and the outstanding shares are 24.42 million. ABVC stock rose after its clinical study in Taiwan was approved.
What study has ABVC been conducting?
ABVC BioPharma is a clinical-stage biopharmaceutical organization with a functioning pipeline of six medications and one clinical gadget (ABV-1701/Vitargus) being worked on. For its medication items, ABVC is centered around using its authorized innovation to direct evidence of-idea preliminaries through Phase II of the clinical improvement process at world-well known exploration establishments like Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus, ABVC means to lead the clinical preliminaries through Phase III at different areas all through the world.
ABVC BioPharma, Inc. (ABVC) last Monday reported that it has gotten Taiwan Central Institutional Review Board (CIRB) endorsement to start a Phase II Part 2 review.
- The approval will permit ABVC to direct investigation of its ABV-1505 Attention-Deficit Hyperactivity Disorder (ADHD) drug at five renowned clinical focuses in Taiwan.
- The Part 2 review is a randomized, placebo-controlled, double-blind study review including an aggregate of roughly 100 patients in Taiwan.
- ABVC is likewise trusting that endorsement will lead part of the review in the United States at the University of California, San Francisco (UCSF) Medical Center.
- Section 1 of the Phase II ABV-1505 review was directed at UCSF from January 2020 through July 2020 and was acknowledged by the US Food and Drug Administration in October of 2020.
- The Part 2 review is designated to start in the initial quarter of 2022 and expected to be finished toward the end of 2022.
- The Part 1 investigation discovered that the dynamic element of ABV-1505, PDC-1421, was protected, very much endured and viable during the treatment and follow-up period with six grown-up patients.
- By and large, results from the Part 1 review showed the helpful worth of PDC-1421 and support further clinical advancement of ABV-1505 for the treatment of ADHD.
ABVC’s JV Efforts:
ABVC Biopharma (ABVC) as of late executed a joint venture concurrence with a Tokyo-based private trading company Lucidam. The arrangement calls for business improvement cooperation through BioLite Japan, a current associate of ABVC, that tries to distinguish beginning phase open doors in drug advancement, computerized wellbeing, and clinical devices innovation. As per the joint endeavor arrangement, ABVC will hold value possession in BioLite Japan at 49% (instead of its pre-understanding half proprietorship) and Lucidam will hold value possession in BioLite Japan at 51% (as opposed to its pre-arrangement half possession).